In certain instances you may want to put an order in place in case an exchange rate falls to a point where you would prefer not to buy under.
Imagine Euro/USD is 1.05, if Euro/USD were to hit 1.01 you might want to ensure that you don’t buy below that point.
Spot Transactions are the most common transactions required by clients. A Spot transaction is simply when a client needs a quote now for a payment they would like to make now.
Using TransferMate you are assured of getting more competitive exchange rates than using your bank.
If your business processes a large volume of international payments, TransferMate Global Payments have the perfect solution to streamline this process. Using our Mass payment upload facility you can enter a large payment file containing hundreds of payments from your ERP system directly into the TransferMate platform.
Processing mass payments has been a painful process for large businesses that typically have to spend valuable time and resources manually entering each payment into their bank. In instances where their bank has provided them with a facility to process a mass payment file, businesses are typically forced to pay international wire fees and receive poor exchange rates in exchange for being provided with this facility. So, in summary the choice today is to spend valuable time and resources manually processing payments or to streamline those payments and save huge amounts of time and money.
If you need to collect funds from your customers overseas, use our network of bank accounts in over 50 countries.
- Collect your funds up to 3 days faster than your customer transferring through their local bank
- You will not be charged receiver fees and your customer will not be charged sending fees
- Your customer will receive a better exchange rate from TransferMate making savings each time they deal with you…get the competitive advantage
- Use our technology to send your customer their bill and track the collection with a complete audit trail saving you hours of administration
Results Faster, cheaper, less administration, maximise cash flow
This is an open position you take where you wish to exchange currency at. You simply notify our team and we will place the order on the market for you. Once that exchange rate hits your order is secured.
Do you need to lock in exchange rates in advance for a given period ie maybe you have a certain Canadian dollar requirement for the next 3 months and you feel like it might be an appropriate time to hold todays exchange rates for payments for the next 3 months.
You might also be in receipt of funds in ie 6 months and want to lock exchange rates in today so that you know how much you will receive in advance.
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